Rep. Jeb Hensarling (R-Texas), chairman of the House Financial Services Committee, said he opposes eliminating the credit union tax exemption.

Rep. Debbie Wasserman Schultz (D-Fla.) recommended credit unions take a balanced message to Capitol Hill when speaking about the Consumer Financial Protection Bureau, advocating for reform but not total elimination of the bureau.

Rep. Blaine Luetkemeyer (R-Mo.), the primary sponsor of legislation that would eliminate the annual privacy notice mailing requirement, said attempts to pass the bill last year revealed the bill’s problems and pitfalls, and “now we know what we need to do this year to pass it.”

House Financial Services Chairman Emeritus Spencer Bachus (R-Ala.) said the House may “revisit” the Durbin Amendment, which limits debit card interchange revenue for financial institutions.

Rep. Gregory Meeks (D-N.Y.) said the Republican strategy of “starving the beast” spending cuts is not a solution to the national debt problem, but instead exacerbates it.

Rep. Kevin McCarthy (R-Calif. ) addresses the Tuesday session. He has served on the House Financial Services Committee since 2007, addresses the crowd.

NCUA Board Member Michael Fryzel said credit unions have a very powerful legacy of common purpose and cooperation.